The father of popstar Britney Spears will finally give up control over his daughter’s $60M estate. While her fans and supporters are celebrating the news, the legal battle has revealed some financial bombshells.

Britney Spears is finally free. Her father will be stepping down as conservator of the pop singer’s estate.

Jamie Spears has been serving as co-conservator of his daughter’s estimated $60 million estate for more than a decade, according to Forbes.  

A conservator is a court appointee who assumes legal responsibility for someone who lacks the ability to manage their personal and financial affairs.

Britney Spears had been paying her father a court-ordered monthly salary of $16,000.

The elder Spears has been paid a total of $5M before taxes since February 2008.

Jamie Spears also received some of her concert revenue, according to the New York Times.

For example, he reportedly got $2.1M from Britney Spears’ Las Vegas concerts from 2013-2017.

But Jamie Spears defended his handling of her daughter’s finances in a 2018 court filing.

His attorney claimed that the estate was nearly out of funds when the father began his conservatorship in 2008.

Britney’s father said his management partly helped her estate increase in value by $20M between 2014 and 2018.

But reports say the singer has lost millions over the course of her father’s conservatorship, especially in legal costs.

Still, experts say the financial impact doesn’t compare to the emotional toll on Britney. 

In an earlier court appearance, she said she was “in shock” and “traumatized”.

The next hearing in the case is scheduled for September 29.

Check out The China Report, our new weekly newsletter. Subscribe here!